La Jolla presented tidbits of information this afternoon on their drug GCS-100. I just watched the webcast. You can view it as well if you're interested navigating from the company websites "Latest news & Events" section.
Just a brief rundown of topics touched on in webcast before full data is released later this month: Full breakdown of phase1/2 of the data will be released within the next two weeks.
1) GCS-100 reverses T-Cell suppression in human ovarian cancer cells.
2)GCS-100 improves Melanoma cancer vaccine.
3)150 patients have been dosed with GCS-100 in 9 Phase 1 and Phase 2 clinical trials.
4)GCS-100 is "Showing significant clinical activity in chronic lymphocytic luekemia (CLL), multiple myeloma (MM), and Renal Cell Carcinoma.
5)GCS-100 showed very few & minor side-effects including rash and joint aches and was "Very well tolerated".
6) and I quote from the CEO "We are in a good financial position and don't see a need for any financing on the horizon." "We have a clear path to proof-of-concept and the money to do it". So we don't have to worry about dilution any time soon.
I'm looking forward to the data that's due out here in a couple weeks which should (if positive) drive up the value of the company and PPS.
Big difference between a dilution and reverse split. A dilution makes your shares less valuable and floods the market with shares.
A reverse split does not change the value of your shares, reduces the number of shares in the market place, makes the company more attractive to potential investors, and satisfies necessary requirements to be listed on the NASDAQ exchange.
I encourage you to read the recent 10-Q. LJPC gives reasons behind the proposed split and goes into more detail on how it could help the company add value and list on a major exchange rather than the OTCBB.